Ezion Holdings Limited announced today that it has secured a charter contract with a value of approximately USD 79.9 million over a 3 year period with additional 2 year extendable option to provide a jack-up rig to support an undisclosed South Asian-based national oil company.

The Jack-up Rig which will be deployed in the Arabian Sea in South Asia is expected to be working by the 4th Quarter of 2013 after its refurbishment and upgrading. The above mentioned project will be funded through internal resources as well as bank borrowings.

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